The Austrian Minister of Agriculture gave his approval last December for the founding of a new AOC: Kremstal DAC. The Kremstal wine growing area is one of the oldest in Austria. Located on the banks of the Danube between the regions of Wachau and Kamptal, Kremstal is the fourth DAC in the country, following Weinviertel (2003), Mittelburgenland (2006) and Traisental (2007). The new name enters into effect for wines from the 2007 harvest onwards.

Rémy Cointreau’s strategy of re-focussing its efforts on premium liqueurs has paid off: demand is soaring, especially in Russia and China. Having increased its prices, the French group has achieved organic growth that is increasing its underlying operational profit by 12.7%, reaching €65.5 million in the first half year spanning 2007 and 2008. Sales reached €374.4 million, up 5.7%. (Source Les Echos)

The future of the Australian wine industry looks threatened by lack of water, which has affected the country for several months. The 2007 harvest had already been reduced by 32% compared to the last 5-year average and the Australian Wine and Brandy Corporation has confirmed a worrying forecast for the future harvest: fruit picked in 2008 is expected to reach 1.3 million tonnes at best, which is no better than 2007. The country is confronted with an unprecedented drought and experts believe that due to climate change, this situation could become the norm. Wine Grape Growers Australia sounded the alarm by announcing that almost 1,000 growers of the country’s 7,500 could go out of business in the very short term. Already, some of the large corporations such as Lindemans have diversified their sources of supply by signing agreements with South American producers. The latest statistics on Australian wine imports reveal 121% growth in Chilean products entering the country, representing a volume of 1.5 million litres.

After 18 months of turbulence, the Taittinger family has become the principal shareholder of the champagne firm again. French bank Credit Agricole, which had bought 100% of Taittinger Champagnes from US investor Starwood for €660 million in June 2006, will reduce its holding to 36% and a little under 20% of the voting rights in the new arrangement. The Taittinger family will own 41% of the shares and 47% of the voting rights. A dozen families, described as friends of the Taittingers, have also accepted to invest in the firm in return for a 22% share and 33% of voting rights. As a result of this reorganisation and recapitalisation, Taittinger will now be able to finance its development projects. The firm has budgeted turnover of €110 million, up 13% compared to 2006, made up almost exclusively of growing export sales that have risen by 12%. (Source Les Echos)

With its champagnes, cognacs and Bordeaux wines, France beat its wine and spirits export record again in 2007. The industry’s results enable the country to reduce the negative trend in its foreign trade balance. Philippe Castéja, President of the French Federation of Wine and Spirits Exporters pointed out at the end of last year, “Our performance in the first 10 months of the year indicate that this is an exceptional year, which should finish with sales of between 9.2 and 9.5 billion euros”. The United States and UK are by far the best customers, followed by Germany, Belgium and Japan. China, which was only in 15^th place in 2006, now features for the first time amongst the top ten customers for French exports in this industry. (Source www.viti.net.fr)

According to a survey reported by the Guardian, the domination of beer in British gastronomy is under threat in the mid term. The attraction of women in the UK for wine has already been recognised, but it seems that by 2039 the majority of men should prefer wine to beer. The survey, which questioned a sample of 1000 British male pub goers, revealed that 54% of them drink a beer to quench their thirst, before ordering a glass of wine. 68% of them say they have “had enough” of the beer taste after the first pint and do not go on to order a second or more. For more than half of the drinkers questioned, it is a question of taste, because the variety of flavours in wine make it more attractive than beer. The social and socialising aspects of wine also account for it being preferred over beer by 68% of the survey informants, who tend more to offer a bottle of wine in a pub, rather than a round of beers. (Source: www.tarumba.nl)

Having consumed 9.4 million cases of still light wines in 2006, Uruguay is the fourth largest market in Latin America, and its volumes are 13% lower than in 1998. Uruguay is traditionally a wine producer and is the leading supplier of its own domestic market with a 98% share. (Source: Revue Vinicole Internationale – The IWSR)